Royal Bank Of Canada Increases Enbridge (TSE:ENB) Price Target to C$72.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective increased by analysts at Royal Bank Of Canada from C$67.00 to C$72.00 in a note issued to investors on Monday,BayStreet.CA reports. Royal Bank Of Canada’s target price indicates a potential upside of 6.38% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Jefferies Financial Group upped their target price on Enbridge from C$72.00 to C$73.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. National Bankshares raised their price objective on shares of Enbridge from C$64.00 to C$65.00 and gave the company a “sector perform” rating in a report on Tuesday, August 5th. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from C$68.00 to C$70.00 in a research report on Thursday, October 9th. Finally, Argus upgraded shares of Enbridge to a “strong-buy” rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$69.50.

Enbridge Stock Performance

TSE ENB opened at C$67.68 on Monday. The firm’s fifty day moving average price is C$67.30 and its two-hundred day moving average price is C$64.70. The stock has a market cap of C$147.58 billion, a PE ratio of 23.83, a PEG ratio of 1.72 and a beta of 0.91. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. Enbridge has a fifty-two week low of C$56.51 and a fifty-two week high of C$70.39.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.